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Copper prices on the Shanghai Futures Exchange were weaker during Asian morning trading hours on Wednesday November 29, with the combination of a stronger dollar and weak macroeconomic data keeping investor appetite subdued.
Check Metal Bulletin’s live futures report here.
The end of the nine-month strike at Noranda Income Fund’s (NIF’s) zinc processing facility in Salaberry-de-Valleyfield, in the Canadian province of Quebec, is unlikely to push spot market premiums lower in the near future, according to market participants.
Copper premiums were little changed in the United States over the past week, with annual contract negotiations hitting a snag due to the Thanksgiving holiday break.
The spot aluminium premium in the United States was flat for a third week in a row, with market participants indicating that the spot market is generally bereft of activity.
The US Commerce Department has elected to self-initiate anti-dumping and countervailing duty investigations into imports of Chinese common alloy aluminium sheet.
See here for Metal Bulletin’s weekly roundup of the state of base metal premiums on Tuesday November 28.
China’s export prices for steel cold-rolled coil and hot-dipped galvanized coil moved higher over the past week as the domestic market saw further gains.
China’s steel plate export prices increased over the past week as several overseas buyers accepted higher transaction charges.